Schlagwort: crypto business

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Arbitrum among top gainers with 9%: Here’s the ARB price outlook

  • Arbitrum (ARB) price rose 9% this past week, trading to above $0.86.
  • Meanwhile, Toncoin (TON), Chainlink (LINK) and Aave (AAVE) saw double digit gains.
  • What next for ARB?

Arbitrum (ARB) is trading higher over the 24-hour timeframe, holding off bears around $0.84 with nearly 3% upside. Over the week, the cryptocurrency’s value is up 9%. That makes ARB among the top gainers this past week, with Toncoin (TON), Chainlink (LINK), ImmutableX (IMX) and Aave (AAVE) posting double digit gains to lead the top 50 coins by market cap. 

With Bitcoin looking to reclaim some joy above $26,600 and most altcoins showing resilience, could ARB break higher to target $1.00? Data shows the altcoin last traded at the psychological level on August 23.

Whale activity and recent ARB price

Arbitrum’s native token slipped to $0.74 on September 11, mirroring the broader market performance that also had Bitcoin sliding to below $25k. A nice uptick for ARB/USD had buyers poised at $0.90 on September 19 before widespread weakness had them revisit support around $0.80.

The positive outlook shows amid the latest bullish signals from whale activity and the crowd. According to data shared by on-chain analytics platform Lookonchain, one whale pointed to this perspective on Thursday with a 1.15 million ARB transfer from Binance. The value of the transaction was $952,000 at the time.

“This whale lost money on $ARB but seems still very bullish on $ARB, withdrawing 1.15M $ARB ($952K) again from #Binance in the past 2 days. The whale was long $ARB on #Aave on July 23, and as the price of $ARB decreased, he had to sell $ARB at a loss to pay off debt on Sept 11,” Lookonchain posted on X.

ARB price chart on TradingView

The price currently sits below the middle band of a rising channel on the 4-hour chart, with the 20-day EMA acting as support. The 4-hour RSI is also suggesting further resilience as it holds above the 50 mark.

If ARB breaks past the channel’s middle line (also where a key horizontal support-turned resistance line resides), at $0.87, bulls might target the supply zone above September highs. A demand reload zone could be around $0.74.

The post Arbitrum among top gainers with 9%: Here’s the ARB price outlook appeared first on CoinJournal.

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Bybit to suspend UK services due to regulatory changes

  • Bybit will stop new account registrations on October 1 and end pause deposits and other services for existing customers on October 8.
  • The exchange’s announcement comes ahead of the effective date for new FCA rules for crypto firms.

Bybit has notified its customers that it will suspend its services in the UK next month as it looks to align operations with new regulatory requirements.

According to the crypto exchange, the decision is “in light of the UK Financial Conduct Authority’s introduction of new rules regarding marketing and communications by crypto businesses as outlined in the June 2023 Policy Statement (PS23/6) entitled “Financial Promotion Rules for Crypto assets.”

The suspension will allow the exchange to focus resources on meeting the new regulation, Bybit said in the announcement.

No new customer registrations beginning October 1

No new registrations will be allowed as from October 1, while services to existing customers will be halted on October 8. 

For current Bybit customers, the effective date will see them unable to make deposits, create new contracts, or increase positions. However, users will still be able to reduce or close positions as well as withdraw funds.

All UK customers have been asked to take the necessary steps to manage and wind down positions. The timeline for such action will run until January 8, 2024, 8:00 am UTC.

“After the stipulated deadline, their open positions will be liquidated, and the liquidation funds will be available for withdrawal,” the exchange noted.

Bybit’s move comes ahead of the October 8 deadline for companies to comply with the new UK marketing rules on ads and promotions. The requirement is that a crypto company must have regulatory approval from the Financial Conduct Authority (FCA) for it to support ads and other promotional materials.

At the moment, FCA’s crypto register does not include Dubai-based Bybit. The company recently scored a crypto exchange and custody licence in Cyprus. 

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Shiba Memu sets a new presale milestone as enthusiasm builds for the meme sensation

  • Shiba Memu has raised over $3 million as presale underlines investor interest.

  • Shiba Memu is unique in its AI marketing, focusing on making it sustainable.

  • A potential 50x gain could be realised based on margins recorded by meme cryptocurrencies. 

Investor interest in new meme cryptocurrencies is undeniably high. Small projects that started as a joke, like Dogecoin and Shiba Inu, have become big names. When PEPE launched earlier this year, investor interest pushed the token to thousands of percentage-digit gains. It is no coincidence that Shiba Memu, a new AI-led meme cryptocurrency, is attracting a huge demand. Still on presale, the token has crossed the $3 million mark on amounts raised. With this unstoppable demand, you can learn more about this token and whether you should invest.

What is Shiba Memu, and how is it unique?

Shiba Memu is a sensational meme crypto project that aims for high ROI by tapping into the power of AI. The project uses AI to optimise its marketing interventions and track branding initiatives. Shiba Memu can also identify positive and negative sentiments on online forums and social media. It then uses the information to inform its marketing campaigns.

The self-marketing concept effortlessly creates hype and popularity for Shiba Memu. For a sector driven by speculations and online chatter, the capabilities enable Shiba Memu to grow powerful. 

Shiba Memu also taps into the power of predictive analytics to stay ahead of rivals. The project can forecast future marketing trends and adjust its branding techniques. An AI personalisation feature also lets Shiba Memu customise its PR strategies. The feature underscores Shiba Memu’s commitment to generating sustainable income for its investors.

Shiba Memu also stands out as a powerful AI project for social engagement. Users can directly engage with the AI through a dashboard and learn from it. From hot topics in creative advertising to captivating crypto conversations, Shiba Memu can do it all. Users can also ask questions and get feedback from the AI. The capability lets Shiba Memu tap into the power of social connections to grow and become more intelligent.

Is Shiba Memu the best meme crypto of 2023?

A few established names may pop up when considering the best meme cryptocurrencies for 2023. However, these tokens, most listed on exchanges, are enduring a prolonged crypto winter. That leaves investors with limited options for meme investment. Shiba Memu is yet to debut on exchanges, meaning its value is still locked. 

As we saw with PEPE earlier this year, meme cryptocurrencies are best when they are starting. Gains can be as high as 50x as speculations are high and investor interest solid. Given this historical trend and market situation, Shiba Memu could be the ideal investment. 

Another investment thesis for Shiba Memu is its utility beyond speculation. Once you have bought the tokens, you can stake them in a smart contract platform or staking pool. Investors earn yields for their staked tokens. Other investors will earn transaction fees by offering liquidity through a decentralised exchange. The use cases could drive investment and demand for the project and generate long-term returns.

Shiba Memu tokenomics and unique presale

From the project’s roadmap, 85% of SHMU tokens will be offered at a discount before the token is listed. The team has set the total supply at 1 billion, with investors rapidly taking the tokens off-shelf. 

The demand can be attributed to Shiba Memu’s unique presale. Since opening the presale, the value of Shiba Memu has risen steadily. From an initial starting price of $0.011125, the token is now valued at $0.028900 and is still on the move. 

The price gains reflect the project’s tokenomics, allowing SHMU value to rise daily at 6 PM GMT. By the time the presale ends, investors will receive more valued tokens than they invested.

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Massive development for VeChain (VET) as self-custody wallet goes live

  • VeChain has officially launched VeWorld, its self-custody wallet.
  • VeWorld supports features such VIP-180 tokens, currency conversion and fee delegation.

VeChain has announced the official launch of VeWorld, the enterprise-focused L1 blockchain’s new self-custody wallet.

VeWorld integrates with WalletConnect, an open-source blockchain standard that allows users’ wallets to connect and interact with decentralised applications (dApps) and other wallets. It’s a bridge that connects the Web3 wallet to the dApps ecosystem, bringing the benefits of interoperability to developers and the broader VeChain user base.

As such, the mobile wallet’s unveiling means the VeChain ecosystem has added a key piece of infrastructure for crypto. It also marks a milestone achievement for the developer team.

“Our developers have been working diligently, day and night, to build and deliver a superior VeChain wallet. Today marks the culmination of those efforts,” reads part of a blog post announcing VeWorld.

Features include currency conversion and fee delegation

VeWorld’s first iteration includes features such as support for VIP-180 tokens (VeChain’s native token standard), currency conversion (either in Euro or USD), and fee delegation. The wallet supports both iOS and Android.

In the future, VeWorld will be upgraded to bring numerous features to users, including VeChain dApp store integration, fiat on/off ramp, DEX functionality, support for asset-bridging and carbon footprint tracking.

VeChain (VET) price

VeChain (VET) traded around $0.01720062, roughly 2.6% down in the past 24 hours. The declines for VET came as the broader crypto market dropped 1.8% amid price slips for Bitcoin (BTC) and Ethereum (ETH). 

BTC was down to $26,600 and ETH to below $1,600 as markets reacted to central bank monetary policies. Continued FUD across the crypto market was also weighing on sentiment.

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Galaxy Digital reveals plans of ‘aggressively’ expanding in Europe

  • Galaxy Digital names Leon Marshall its head of Europe operations.
  • The crypto company had recently partnered with DWS in Europe.
  • Galaxy Digital shares are down about 30% versus their YTD high.

Galaxy Digital just revealed plans of expanding its footprint in Europe. Its shares are keeping about flat at writing.

Leon Marshall to head Galaxy’s European operations

On Thursday, the blockchain company named Leon Marshall the Chief Executive of its European operations. He has previously served as an executive at Genesis.

Marshall has been tasked with seeking opportunities and leading the digital assets platform further into Europe. He will remain its global head of sales as well.

Earlier this year, the New York based firm announced a strategic alliance with DWS on digital assets ETPs – exchange-traded products. The asset manager will eventually work with Galaxy Digital on other digital asset solutions as well.

“GLXY” is currently down about 30% versus its year-to-date high at writing.

Europe is turning more attractive for crypto companies

MiCA or Markets in Crypto-Assets Regulation that the European Union approved this year makes it attractive for cryptocurrency companies. Michael Novogratz – the Founder of Galaxy Digital said today:

We’re thrilled to name Leon as CEO of Europe, a region critically important to our growth strategy. He’ll be invaluable as we scale our operations in U.K. and continental Europe aggressively.

Blockchain firms have also been turning recently to other crypto-friendly countries including the United Arab Emirates and Singapore due to a lack of regulatory clarity in the United States.

Earlier in September, the CEO of Ripple Labs – Brad Garlinghouse blasted the U.S. regulators for doing “nothing” to alleviate the situation as he announced plans of expanding in Europe.

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